IDC Ranks Cartesis a Leader in West European BPM Market

August 7, 2006 By Budgeting Software Journal

In an IDC report released at the end of July, Cartesis is positioned as a leader in Western Europe for Business Performance Management (BPM) and Financial Analytic Applications. Cartesis’ 35.1 percent revenue growth in 2005 was 2-3 times that of most other leading vendors in the region.

The IDC report highlights the Cartesis 2005 acquisitions of INEA and AIS, product enhancements as well as the introduction of Cartesis 10, a comprehensive BPM suite, as the main drivers for the company’s leading 2005 growth rate. Citing revenue growth that exceeded the market average, the report also regarded Cartesis as well-positioned to challenge other leading vendors in the region.

“Cartesis has undergone important changes in the past few years. Because of its excellent momentum, its market share and position as the fourth largest BPM and FAA vendor in Europe, we view Cartesis firmly in the leadership corner,” said Christina Steensboe of IDC who authored the report. “Cartesis is getting closer to the top and challenging SAP and Cognos for the number two position in the market.”

Steensboe also projects an 11.6 percent compound annual growth rate for the BPM and FAA market as compliance requirements continue to drive initiatives in finance and information transformation, and accelerate investment in BPM and FAA solutions. While budgeting and planning software are considered the primary growth areas as organizations streamline those processes, the consolidation market also growing, fueled by the ongoing need for solutions to support complex compliance requirements.

Introduced in April 2006, Cartesis 10 represents the world’s most powerful business performance management (BPM) solution and the first solution to integrate internal and external financial data for publication, benchmarking and M&A planning. It enables multinational companies to meet market demands for faster closing cycles, more accurate and integrated forecasting and planning, external benchmarking, and more timely access to information for analysis and decision-making. Cartesis 10 represents a dramatic shift in business performance management solutions by integrating financial consolidation, management reporting, planning, forecasting and budgeting, and analytics to give companies a clear view of their historical, current and future business performance. The suite consists of Cartesis Finance, Cartesis Planning and Cartesis Analytics.

“The sizable growth rate we have maintained in Europe over the last 12 months is substantially larger that of the other vendors in the region,” says Didier Benchimol, CEO of Cartesis. “With Cartesis 10 and the successful and timely integration of last year’s acquisitions, Cartesis is poised to continue to accelerate its growth not only in Europe, but globally, with a full suite of performance management applications that help companies measure, understand and optimize financial and business performance.”

The report is based on IDC’s European Software Group’s evaluation of multiple aspects of the largest BPM and FAA vendors to collectively evaluate their activities, position, and potential in the Western European BPM and FAA market. The result of this exercise is depicted in the IDC Leadership Grid, which is based on an analysis of factors such as market share, product depth, financial strength, European coverage, and market momentum. These factors are consolidated quantitatively, weighted by importance, and ultimately produce a distribution on the two dimensions – present indicators and future parameters. For a description of the IDC Leadership Grid methodology, please see the full report. The report titled, Western European Business Performance Management and Financial Analytic Applications, 2005 Vendor Shares (IDC #LT05N, July 2006) is available at www.idc.com.